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SBI Fixed Deposit (FD) Interest Rates 2025

Updated on: Dec 19th, 2024

15 min read

State Bank of India (SBI) is a public sector bank in India that has branches across the world. It is the largest bank in the country, offering multiple retail banking products. One such retail banking product is Fixed Deposit (FD) accounts.

FDs are by far the most trusted mode for savings across customers of all age groups due to their guaranteed returns feature. The bank provides attractive interest rates on customers’ deposits over the tenure chosen by the customers.

Here is all that you need to know about FD schemes, interest rates, eligibility criteria, and more.

This is the Latest FD Interest Rates 2025 for SBI Bank

2025 SBI FD Rates 2025

SBI FD Period	Interest Rates
Highest FD rate (400 Days - Amrit Kalash)	7.10% p.a.
1 year	6.80% p.a.
2 years	7.00% p.a.
3 years	6.75% p.a.
4 years	6.75% p.a.
5 years	6.50% p.a.
Tax-Saving FD	6.50% p.a.

Note: Interest rates are as of 15/05/2024

2025 FD Rates of SBI(Below 2 Crores)

Below table provides the SBI Bank FD interest rates 2025 for deposits below Rs.2 crore:

FD Tenure	Interest Rates (p.a) for General Public
7 days to 45 days	3.50%
46 days to 179 days	5.50%
180 days to 210 days	6.00%
211 days to less than 1 year	6.25%
1 year to less than 2 years	6.80%
2 years to less than 3 years	7.00%
3 years to less than 5 years	6.75%
5 years and up to 10 years	6.50%

Note: Interest rates are as of 15/05/2024

2025 Term Deposit Rates of SBI (Above 2 Crores)

Below table provides the SBI Bank FD interest rates 2025 for deposits above Rs.2 crore:

FD Tenure	Interest Rates (p.a) for General Public
7 days to 45 days	5.25%
46 days to 179 days	6.25%
180 days to 210 days	6.60%
211 days to less than 1 year	6.75%
1 year to less than 2 years	7.00%
2 years to less than 3 years	7.00%
3 years to less than 5 years	6.25%
5 years and up to 10 years	6.00%

Note: Interest rates are as of 15/05/2024

2025 FD Rates of SBI for Senior Citizens

FD Tenure	Interest Rates (p.a) for deposits below Rs.2 crore	Interest Rates (p.a) for deposits above Rs.2 crore
7 days to 45 days	4.00%	5.75%
46 days to 179 days	6.00%	6.75%
180 days to 210 days	6.50%	7.10%
211 days to less than 1 year	6.75%	7.25%
1 year to less than 2 years	7.30%	7.50%
2 years to less than 3 years	7.50%	7.50%
3 years to less than 5 years	7.25%	6.75%
5 years and up to 10 years	7.50%*	6.50%

*This includes the additional 50 bps premium of under the “SBI We-care” deposit scheme.

Note: Interest rates are as of 15/05/2024

Term wise SBI Fixed Deposit Rates

Short-Term SBI Fixed Deposit Rates

For short-term SBI FD, i.e., FDs ranging from 7 days to 1 year, the interest rates vary from 3.50% p.a. to 6.00% p.a. For senior citizens, the FD interest rates range from 4.00% p.a. to 6.50% p.a.

Medium-Term SBI Fixed Deposit Rates

For medium-term SBI FD, i.e., FDs ranging from more than 1 year to less than 5 years, the interest rate varies from 6.80% p.a to 6.75% p.a. For senior citizens, the FD interest rates range from 7.30% p.a. to 7.25% p.a.

Long-Term SBI Fixed Deposit Rates

For long-term SBI FD, i.e., FDs ranging above 5 years, the interest rate is 6.50% p.a. The FD interest rate for senior citizens is 7.50% p.a. under the ‘SBI We-care’ deposit scheme.

SBI vs Other Banks' FD Rates

The below table shows the comparison between SBI bank FD interest rates with the other top banks in India:

Bank	FD Tenure	Interest Rates
SBI Bank	7 days - 10 years	3.50% - 7.00%
Axis Bank	7 days - 10 years	3.00% - 7.20%
HDFC Bank	7 days - 10 years	3.00% - 7.25%
ICICI Bank	7 days - 10 years	3.00% - 7.20%
IDBI Bank	7 days - 20 years	3.00% - 7.00%
Canara Bank	7 days - 10 years	4.00% - 7.25%
Kotak Mahindra Bank	7 days - 10 years	2.75% - 7.25%
Bank of Baroda	7 days - 10 years	4.25% - 7.25%
Punjab National Bank	7 days - 10 years	3.50% - 7.25%
Indian Bank	7 days - Above 5 years	2.80% - 7.25%
UCO Bank	7 days - Above 5 years	2.90% - 6.75%
Yes Bank	7 days - 10 years	3.25% - 7.75%
RBL Bank	7 days - 10 years	3.50% - 7.80%
Induslnd Bank	7 days - Above 5 years	3.50% - 7.75%

Features and Benefits of SBI Fixed Deposit

The minimum deposit tenure to open an FD account is 7 days.
The maximum deposit tenure for an FD account is 10 years.
The minimum deposit amount is Rs.1,000.
You can open an FD account online or by visiting the nearest branch of SBI.
Get attractive interest rates on all tenures and schemes.
Senior citizens above the age of 60 years, SBI staff, and SBI pensioners are bound to receive additional interest rates.
A nomination facility is available.
Transfer the account across branches of SBI.
Interest payout can be done monthly, half-yearly, yearly, or on maturity based on the scheme chosen.
A loan facility against FD is available.

Types of SBI Bank FD Schemes

1. Fixed Deposit

Deposit a lump sum in this account and get access to features such as flexible interest payout options, guaranteed returns, liquidity, and premature withdrawal. The features of an SBI fixed deposit account are as follows:

Minimum deposit tenure is 7 days
Maximum deposit tenure is 10 years
Minimum sum for the deposit is Rs.1,000
No limit on the maximum sum for deposit
Available at all SBI branches
Senior citizens can get 0.25% extra interest rate for the deposit amount

2. Annuity Deposit Scheme

This account allows you to deposit a lump sum in one go and receive the same in Equated Monthly Installments (EMIs), where a part of the principal is paid back along with the interest on the reduced principal amount. The interest is compounded in quarterly intervals and discounted to the monthly value. The features of the SBI annuity deposit scheme are as follows:

Deposit period can be 36, 60, 84, and 120 months
Deposit must be made such that the minimum monthly annuity is Rs.1,000 for the chosen tenure
No limit on the maximum sum for deposit
Premature payment is allowed for deposits up to Rs.15,00,000
Available at all SBI branches
In special cases, overdraft/loan facility is available up to 75% of the annuity balance amount
Nomination is available only in favour of individuals

3. Multi Option Deposit (MOD)

MOD is a term deposit linked to your savings/current account. You can withdraw from this account in the units of Rs.1,000 as per your needs. The balance in the account will continue to earn interest as per the initial rate. The minimum sum to deposit is Rs.10,000. The features of the SBI annuity deposit scheme are as follows:

Tenure of deposits can be 1 year to 5 years
Nomination facility is available
Provision of MODs are available through the auto-sweep facility in Savings Plus accounts
AMB (Average Monthly Balance) must be maintained in the linked savings/current account

4. Motor Accident Claims Annuity (Term) Deposit Account (MACAD)

The account is dedicated to credit the compensation awarded by the court/tribunal to victims/claimants of motor accidents. The credited amount will be paid to the victims/claimants in monthly annuity instalments comprising a part of the principal amount with interest. The features of SBI MACAD are as follows:

Minimum monthly annuity is Rs.1,000 for the specified tenure
Tenure ranges from 36 months to 216 months, as stated by the court/tribunal
No limit on the maximum deposit amount
Nomination facility is available
Passbook will be issued to account holders
Annuity payment, premature closure payment or part lump sum payment will be made only through the linked MACT claims in a savings bank account

5. SBI ‘Sarvottam’ (Non-Callable) Term Deposit

This term deposit offers a higher interest rate without a pre-mature withdrawal facility. Only resident individual and non-individual customers can open this term deposit account. NRI’s cannot open this account. The features of the SBI ‘Sarvottam’ term deposit scheme are as follows:

Minimum deposit amount is Rs.1 crore for retail and Rs.2 crore for bulk
Maximum deposit amount is less than Rs.2 crore for retail and there is no maximum limit for bulk
Tenure ranges from a year to 2 years
Senior citizens above the age of 60 years and SBI staff are bound to receive additional interest rates
Only a demand loan against the deposit is allowed with an applicable margin
Renewal of deposits are not allowed

6. SBI Tax Savings Scheme

The deposits in this account give tax benefits under Section 80C of the Income Tax Act, 1961. They are ideal for individuals looking to save tax and claim deductions under the Income Tax Act. The features of the SBI tax savings scheme are as follows:

Minimum tenure is 5 years, and the maximum is 10 years
Lock-in period of 5 years
Interest is compounded quarterly
Loans or advances are not allowed against these deposits during the lock-in period
Minimum sum for the deposit is Rs.1,000
Maximum sum for the deposit is Rs.1,50,000
Deposit can be transferred from one branch to another branch; however, it cannot be transferred to another bank

7. SBI ‘We-Care’ Deposit for Senior Citizens

The SBI ‘We-Care’ deposit scheme is for senior citizens. Under this scheme, senior citizens get an additional premium of 30 bps, above the additional 50 bps, for a deposit tenure of 5 years and above. However, this scheme is available only for a limited period till 31 March 2024. The features of the SBI ‘We-Care’ deposit for senior citizens are as follows:

Minimum tenure is 5 years, and the maximum tenure is 10 years
Interest payment at monthly or quarterly intervals for term deposits
Loan facility available against the deposits
Available at any branch or on YONO app

8. Floating Rate Bulk Term Deposit (FRBTD)

This deposit offers an interest rate linked to an external benchmark (Repo Rate). Thus, the interest rates change with a change in the Repo Rate or spread during the currency of the deposit. All Individuals and non-individuals, including NRIs, can open this deposit account. The features of the SBI FRBTD are as follows:

Senior citizens above the age of 60 years and SBI staff are bound to receive additional interest rates
Minimum tenure is 91 days, and the maximum tenure is 3 years
Minimum sum for the deposit is Rs.2 crore
No limit on the maximum amount
Loan or overdraft facility is available up to 90% on the FRBTD amount
Penalty for premature payment of 1%

9. SBI Special Term Deposit

This is a term deposit where interest is paid only at the time of maturity and not at the regular frequency of the deposit period. The regular interest is added to the principal, and compound interest is calculated and paid. The features of the SBI special term deposit are as follows:

Minimum tenure is 6 months, and the maximum tenure is 10 years
Minimum sum for the deposit is Rs.1,000
No limit on the maximum amount
Available at all SBI branches
Interest on the deposit is compounded quarterly and paid at the end of the term
Nomination available only in favour of individuals
Loan facility is available against deposits with applicable margins

Eligibility to Open an SBI FD Account

Resident individuals holding account ownership singly or jointly.
Minors with parents/guardians’ consent.
Karta of Hindu Undivided Families (HUFs).
NRIs (Non-Resident Indians) and PIOs (Persons of Indian Origin).
Partnership firms.
Companies.
Trusts.
Societies.
Local bodies and any government department.

Documents Required to Open State Bank of India FD

PAN card
Bank account details like account number, bank branch and IFSC code
Proof of Identity
- Passport
- PAN card
- Voter ID
- Driver’s license
- Aadhaar card
Proof of Address
- Passport
- Aadhaar card
- Bank statement with a cheque
Proof of Date of Birth
- Service discharge certificate
- PAN card
- Aadhaar card
- Voter ID

How to Invest in SBI FD?

You can invest in SBI FD through various ways.

Internet Banking

Step 1: Log in to the SBI net banking by entering your credentials.

Step 2: Click on the ‘Deposit & Investment’ tab and select ‘Deposit’.

Step 3: Click on the ‘Fixed Deposit’ option.

Step 4: Select the type of deposit account and click ‘Proceed’.

Step 5: Choose the account from which money has to be debited to the FD account.

Step 6: Enter the FD principal value, select the term deposit option, accept the terms and conditions and click the ‘Submit’ button to open an FD.

Mobile Banking

Step 1: Download and log in to the Yono SBI app.

Step 2: Click on ‘Deposits’ and select the ‘Fixed Deposits’ option.

Step 3: Click on the ‘Open Fixed Deposits’ button.

Step 4: Enter the required details and click ‘Next’.

Step 5: Review the details, tick the terms and conditions and click ‘Confirm’.

Visiting the Bank Branch

You can also open an FD account by visiting the SBI bank branch and obtaining the FD opening form. Fill out the form and submit it to the bank to open an FD account.

Tax on SBI Fixed Deposit

State Bank of India offers a tax saving deposit, i.e. the ‘SBI Tax Savings Scheme, 2006’, which provides tax benefits under Section 80C of the Income Tax Act,1961. The minimum deposit amount under this scheme is Rs.1,000, and the maximum deposit amount is Rs.1.5 lakh. It has a minimum lock-in period of 5 years, and the maximum tenure is 10 years.

Apart from the above scheme, SBI deducts TDS based on the interest earned on the FD accounts. However, the bank deducts TDS of 10% only when the total FD interest income exceeds Rs.40,000 in a year and Rs.50,000 in the case of senior citizens. You can submit Form 15G/15H to the bank requesting not to deduct TDS when the total interest income does not exceed Rs.40,000 or Rs.50,000 (in case of senior citizens).

Premature Closure of SBI Fixed Deposit

The State Bank of India will charge a penalty when the fixed deposit account is closed before the minimum tenure period. The penalty for premature closure of SBI fixed deposit account is as follows:

For deposits up to Rs.5 lakh, the penalty for premature withdrawal is 0.50%
For deposits above Rs.5 lakh, the penalty for premature withdrawal is 1%

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Frequently Asked Questions

What is the FD interest rate in SBI?

The FD interest rates in SBI vary depending on the tenure of the deposit. Currently, the SBI interest rates vary from 3.50% to 6.50% for the general public and 4.00% to 7.50% for senior citizens.

How to calculate FD interest rate in SBI?

You can calculate the FD interest rate in SBI bank by using the below formula:

A = P (1 + r/n) ^ n x t

In which,

A = the amount you receive on maturity
P = the amount you are investing
r = the annual rate of interest
n = the number of times the interest is compounded. (n will be 4 for quarterly compounding, 2 for half-yearly compounding and 12 for monthly compounding).
t = the tenure of investment

You can also easily calculate the SBI interest rate by using the SBI FD calculator within minutes.

What is the current interest rate on FD in SBI?

Currently, the SBI interest rates vary from 3.50% to 6.50% for the general public and 4.00% to 7.50% for senior citizens.

How much is the interest rate on 5 lakh FD in SBI?

The interest rate for Rs.5 lakh FD in SBI varies depending on the tenure of the deposit. Currently, the SBI interest rates vary from 3.50% to 6.50% for the general public and 4.00% to 7.50% for senior citizens.

What interest rate SBI gives on FD above 1.5 lakhs?

The interest rate for FD above Rs.1.5 lakh in SBI varies depending on the tenure of the deposit. Currently, the SBI interest rates vary from 3.50% to 6.50% for the general public for a tenure of 7 days to 10 years and 4.00% to 7.50% for senior citizens.

What is FD interest rate for senior citizen in SBI?

The interest rate for senior citizens varies depending on the tenure of the deposit. Currently, the SBI interest rates vary from 4.00% to 7.50% for senior citizens depositing below Rs.2 crore for a tenure of 7 days to 10 years.

What is FD interest rate in SBI at one year?

The FD interest rate in SBI for one year is 6.80% p.a. for general citizens and 7.30% p.a. for senior citizens.

What is the interest of 1 lakh FD in SBI?

The interest rate for Rs.1 lakh FD in SBI varies depending on the tenure of the deposit. Currently, the SBI interest rates vary from 3.50% to 6.50% for the general public for a tenure of 7 days to 10 years and 4.00% to 7.50% for senior citizens.

How many years FD will double in SBI?

Let’s take an interest rate applicable for 5 to 10 years, which is currently 6.50%. In such a situation, when you divide the current interest rate by 72, the answer will be 72/6.5 = 9.6. According to this calculation, your money will double in 11 years.

What is the highest interest rate on SBI FD?

The highest interest rate in SBI FD is 7.00% p.a. for general public for a tenure of 2 years to less than 3 years.

What is the minimum investment for FDs under SBI?

The minimum investment for FDs in SBI is Rs.1,000.

What is the penalty for early withdrawal in SBI FD?

For deposits up to Rs.5 lakh, a penalty for early withdrawal of 0.50% will be applied for all tenures. On the other hand, a penalty of 1% is applied for deposits above Rs.5 lakh on all tenures.

Do we have premature withdrawal facility on SBI FD?

Yes, a premature withdrawal facility is available for SBI FDs. However, you have to pay the premature withdrawal penalty when you withdraw money before the minimum tenure of your deposit.

Can I get a loan facility on the SBI Tax Savings Scheme?

You can get the loan facility on the SBI Tax Savings Scheme, 2006, only after completing the lock-in period of five years, subject to the extant instruction of the term deposit/special term deposit.

What happens if I have missed providing maturity instructions?

If you have missed providing maturity instructions while opening an FD account, the account will get auto-renewed upon maturity.

What happens if I withdraw the FD balance before completing the minimum deposit tenure?

If you withdraw the FD balance before completing the minimum deposit tenure, the interest for such a deposit will not be paid.

Can more than two adults open an FD account jointly?

Yes. Two or more adults can jointly open an FD account.

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About the Author

Mayashree Acharya

Senior Content Writer

I am an advocate by profession and have a keen interest in writing. I write articles in various categories, from legal, business, personal finance, and investments to government schemes. I put words in a simplified manner and write easy-to-understand articles. Read more

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